Binance, one of the largest cryptocurrency exchanges in the world, recently announced the sale of its Russia business to CommEX, a newly launched crypto platform. The financial details of the deal have not been disclosed. However, Binance stated that it will no longer have any ongoing revenue split or the option to buy back shares
Exchanges
HTX global adviser Justin Sun recently announced the creation of a secure asset fund for users (SAFU) after the exchange experienced a $7.9 million exploit of its hot wallet on September 24. This fund serves as a safety net for investors, ensuring that they are reimbursed for any losses resulting from hacks or unforeseen incidents
Financial authorities in South Korea are taking steps to enforce strict eligibility reviews for major shareholders of cryptocurrency exchanges. This move aims to mirror the standards upheld within the banking sector and address the increasing legal turmoil surrounding prominent domestic exchanges like Bithumb and Upbit. The Financial Intelligence Unit (FIU) under the Financial Services Commission
South Korea’s leading cryptocurrency exchange, Upbit, recently found itself facing a major crisis after being targeted by fraudulent activities involving counterfeit tokens. As a result, the exchange was forced to suspend all withdrawals and deposits of Aptos’ native token, APT. This incident not only raised concerns about the security of digital asset exchanges but also
A recent lawsuit against law firm Fenwick & West has prompted the firm to defend itself against allegations of fraudulent activity in their representation of FTX. In a legal filing on September 22, Fenwick outlined several grounds on which it seeks to dismiss the class action suit. This article critically analyzes Fenwick’s defense in light
The crypto exchange Bybit has announced its decision to leave the UK market due to upcoming regulations set by the Financial Conduct Authority (FCA). This move reflects the exchange’s proactive approach to embracing regulatory changes. However, the sudden shift in Bybit’s stance contradicts its previous commitment to the UK market. This article will explore the
The cryptocurrency industry is no stranger to regulatory challenges, and stablecoins have found themselves in a particularly tough position. Amidst the uncertainties surrounding the forthcoming Markets in Crypto Assets (MiCA) regulations in Europe, recent reports suggested that Binance, one of the world’s largest crypto exchanges, may delist stablecoins. However, Binance CEO Changpeng Zhao (CZ) has
After suffering a significant security breach that resulted in the loss of over $27 million in digital assets, CoinEx, a renowned cryptocurrency exchange, is finally set to resume its deposit and withdrawal services for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) starting September 21st. This marks a new
Binance.US, one of the leading cryptocurrency exchanges, has experienced a significant decline in its weekly trade volume. From reaching an annual high of nearly $5 billion, it has plummeted to a mere $40 million, according to data from Kaiko. This drastic drop can be attributed to multiple factors, including regulatory charges filed by the U.S.
The recent controversial donation of $3 million in Binance Coin (BNB) by Binance Charity to victims of the earthquake in Morocco has ignited a debate surrounding the role of cryptocurrencies in humanitarian aid. Critics argue that immediate essentials like food and water are more important than cryptocurrency donations. However, CZ Binance, the CEO of Binance,
